company driver to owner operator; is it worth it

When times are good being an o/o is great. When they're bad it can weigh down on everything else. Regardless if they are good or bad just starting out will most likely be a struggle. You simply don't know what you don't know about the business. It's not that you can't learn but it will take time, perseverance, and little luck along the way. As with anything though you will make that luck.

OP you have a great company gig right now. If you bought a truck tomorrow and made it thru the first 3 or 4 years you will certainly look back and wonder if it was wise. I question it myself all the time. Even being in business for over 7 years now I still look back and think is this worth it? If you have to ask... Really in the past year or so I think not. But I hold out for better times because it is all I know and the transition back to someone else telling me what, when, where to go would be difficult indeed.

 

It's definitely worth it and if you can go for it and try to keep the fuel costs low by being a local o/o

 

Absolutely not. Retail doesn't translate into runnning a truck.

Balancing a budget?

Seriously I've never had to do that, that's check book stuff. You don't really have a budget but have policies and projections. You use past numbers to project the next week, next month and so on. But no budget.

Oh and if you have a good just job which you have, don't bother with trying to get into this - the failure rate is high.

How old is you kid?

If he is under 14, then don't bother just because of that.

 

So what do O/O's make leased to the company you drive for?

We can't really tell you if it's worth it without knowing what the difference in pay is.

 

I agree with some others, you have a sweet gig. Your at home every night. Falling back on the restaurant experience in your off time will not keep as much money in your bank account as being able to take care of your own rig. It doesn't matter new or old there is always something to do to one. Luckily some days it's just several hours of TLC and minimal expense. Other days make you want to #### in your hand and wipe it in your hair.

FWIW I started as an O/O took my boy some. He is 23 now I heard his Pete leaving out about 2am this morning. Has a new baby at home and his wife is really wanting him home more to help at night. I hope they figure it out. I'm sure they will I'm just saying be real thoughtful of what riding with Dad can start. Make no mistake I'm proud of him, wouldn't trade anything for those days years ago. But I'm not sure this is the path I hoped he would follow

 

Fuel cost low or all cost low?
What's more important total operating cost or fuel cost?

 

While fuel cost is definitely important, it's not near as important as what the truck makes. If you find yourself in a position where the cost of fuel either makes or breaks you, you have a serious problem.